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Japan finmin reiterates pledge against competitive FX devaluation
February 7, 2017 / 12:22 AM / 10 months ago

Japan finmin reiterates pledge against competitive FX devaluation

TOKYO (Reuters) - Japan will stick to a G7/G20 agreement against competitive currency devaluation and continue to use monetary policy to achieve its inflation goal, without targeting currencies, Finance Minister Taro Aso said on Tuesday.

Japanese Finance Minister Taro Aso takes questions from reporters at the annual meetings of the IMF and World Bank Group in Washington October 7, 2016. REUTERS/James Lawler Duggan

Aso declined to comment when asked about the yen's recent gains. The dollar slid to two-month lows against the yen JPY= earlier amid a drop in U.S. Treasury yields.

He also told reporters after a cabinet meeting that he hoped Prime Minister Shinzo Abe and U.S. President Donald Trump would engage in constructive dialogue that would benefit both sides and improve bilateral economic ties when they meet this week.

Reporting by Tetsushi Kajimoto; Editing by Chang-Ran Kim

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